The Business and Economics of Law Firms
This course will provide students with an enhanced and vital understanding of law firms as business entities in a competitive and global market. Based on feedback from employers, interviews with hundreds of lawyers and published accounts from law firm leaders, it is clear that technical legal ability will be necessary but not sufficient to excel in the practice of law or any business endeavor in coming decades. The topics will be explored through the review and analysis of literature, statutes, and case studies, and will include a basic financial analysis of the operations of law firms. Assignments will be case studies and will simulate the client advisory process allowing students to gain experience providing legal advice and business recommendations. In addition, in prior years, there have been joint sessions and assignments with a parallel class at Bucerius Law School in Hamburg, Germany, and this may take place again. Associate Dean and Senior Lecturing Fellows Bruce Elvin and George Krouse '70 will lead, teach and organize the seminar, with senior law and business leaders serving as guest lecturers many weeks. There is no final exam.
Please note that course organization and content may vary substantially from semester to semester and descriptions are not necessarily professor specific. Please contact the instructor directly if you have particular course-related questions.